Moody’s upgrades Montenegro’s credit rating from Ba3 to Ba2, with positive outlook

The credit rating agency Moody’s has raised Montenegro’s rating from Ba3 to Ba2, keeping a positive outlook for further improvement. The news was announced by Finance Minister Novica Vuković.

According to the minister, since the beginning of the 44th Government’s mandate, Moody’s has continuously improved the country’s rating — first from B1 to Ba3 and now to Ba2. The other rating agency, Standard & Poor’s, has also raised the rating from B to B+ with a positive outlook.

Moody’s directly links the rating upgrade to progress in the structural reforms that Montenegro is implementing within the European Union accession process. The Finance Ministry emphasizes that since the previous rating upgrade, the country has made strong progress on the European path, including the provisional closure of 18 new negotiating chapters.

According to Moody’s assessment, the scope and dynamics of the implemented reforms are above analysts’ expectations. The positive outlook implies that continued European integration could bring stronger institutions, more investment, foreign capital inflows, accelerated economic growth and concrete fiscal benefits for the country, as Vijesti reports.